Dos and don'ts for increasing production: Know your key production indicators

By Dr. Roger P. Levin, DrBicuspid.com contributing writer

March 17, 2014 -- Collecting information on your practice operations can quickly become overwhelming. Key production indicators (KPIs) solve the information overload problem. They are 12 to 15 critical statistics that the practice tracks on a regular basis. KPIs provide a vital snapshot of practice operations that the dentist can review in three to five minutes.

Track what matters most. Too much information is overwhelming. Track KPIs such as the following:

Production
Profit
Overhead
Collections
Gross revenue
No-shows/last-minute cancellations
Average production per patient
Number of new patients each month

Don

Don't view analyzing KPIs as just an occasional event. KPIs must be measured and analyzed each week. A quick review should not take more than two to five minutes. Over time, consistent evaluation of KPIs makes it possible for the doctor to rapidly identify performance changes, even minor ones.

Roger P. Levin, DDS, is the chairman and CEO of practice management consulting firm Levin Group.

The comments and observations expressed herein do not necessarily reflect the opinions of DrBicuspid.com, nor should they be construed as an endorsement or admonishment of any particular idea, vendor, or organization.

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